8 Oct 2024
Cue the tiniest violin as Shell, the poster child of corporate greed and environmental destruction, announces—wait for it—a drop in its refining profit margins! Yes, folks, the same oil titan responsible for trashing the planet now faces the horrific fate of only making slightly less obscene amounts of money. Somewhere in the world, a polar bear sheds a tear… or maybe that’s just an oil slick.
Let’s break down the tragedy: Shell’s refining margins took a nosedive by a whopping 30% in the third quarter, down to a measly $5.5 per barrel from the previous $7.7. Oh, the humanity! It seems global demand for oil has taken a dip, as the world awkwardly tries to figure out how to avoid climate catastrophe while Shell desperately clings to its 19th-century business model.